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RWE ready to invest over €1bn in Bosnia

Power Engineering

3 December 2008 - German utilities group RWE AG has expressed an interest to invest over €1bn ($1.3bn) in the energy sector in Bosnia's Serb region.

The RWE management and the Serb republic government discussed the possibilities of cooperation in the construction of thermo and hydro-power plants in the region, which makes up Bosnia along with the Muslim-Croat federation.

RWE has estimated that some 2000 MW of electricity could be produced through the construction of hydropower plants on the rivers of Drina and Trebisnjica in the east and on the river Vrbas in the west of the region.

"We see the Serb republic as the growing market in the future and we want to contribute to the development and building of infrastructure, especially in domain of power supplies," Gerd Jaeger, a member of the RWE Executive Board, said in Banja Luka.

Jaeger said that his company could kick off with the construction of hydropower plants in 2009.

Serb republic Energy Minister Slobodan Puhalac said the cooperation with RWE would be in the form of public-private partnership because the region did not want to privatise its energy sector.